FAMU VP of Finance and Administration Alan Robertson told Trustees, Thursday, that the university faces $12.8 million in losses in revenue, expenses, due to the COVID-19 pandemic crisis. Robertson said the losses are a result from having to convert to full online instruction, software expenses, and having to refund students $3.5 million in room and board expenses.
Robertson said the university could expect to recoup some of the money from the $2 trillion federal economic relief package passed by Congress on March 27.
The losses could grow the longer crisis continued Robertson warned.
The costs mount up when considering projected financial losses associated with housing, dining, athletics, campus events, summer camps, parking, commission losses from outside vendors, and expanding bandwidth to support online instruction delivery.
FAMU already has instituted a hiring freeze, he said.